Accelerating Digital Adoption: Winning Strategies for the Next Decade

Shree Parthasarathy, Managing Director at Metavrash Consulting

 

The digital movement has become the pillar of the business landscape. Digitalisation has embedded itself into every nook of the industrial sphere, and digital transformation has advanced from a niche interest to a necessity. With new and exciting technologies emerging on the horizon daily, global expenditure on digitally advanced technologies and services is expected to reach $3.4 trillion by 2026. Information technology followed by media and Financial services are leading the charge in digitalisation whereas industries like real estate and health have much ground to cover. Having said that, the start up ecosystem with its digital first strategy is upending business models and skyrocketing consumer expectations.

 

However, digital transformation is not an isolated phenomenon. As a coin has two sides, so does digitalisation; on one side lies the digital revolution, and on the other, digital adoption. Digital adoption gives digital transformation a purpose, and digital transformation makes digital adoption the key to survival and growth.

 

Modernizing legacy applications through cloud platforms, leveraging generative AI tools to elevate customer service, and utilizing enterprise CRM systems—these are the pathways toward a self-sustaining future. This future enhances services, drives product innovation, and establishes a resilient infrastructure conducive to continuous learning and contextual training. In many a case it may even manifest in the viability and sustainability of organisations & industries.

 

 

Digital transformation has solidified its position as a critical tool in the arsenal, as evidenced by its market growth, which is forecasted to accelerate at a CAGR of 19.1% over the next five years.

 

“I would like to position Digital transformation not as a tool but rather as a transformational change in doing business, commencing with a change in mindset and not mere adoption of the opportunity but a full-blown embrace of the same. The business landscape is rapidly evolving; businesses must walk dynamic strides to gain an edge in an industry marked by competition and ever-changing customer expectations. In the grand picture, merely initiating digital ideas will yield underwhelming results. Accelerating digital adoption is the answer to a fulfilling digital transformation.” 

Know Your Vision

Boarding the digital adoption train requires an action plan of 

• winning, 
• practical, 
• and long-term strategies. 

Regardless of the route you embark upon, the first step is setting a goal. Technologies—particularly emerging technologies—are trendy and appealing. As in the case of marriages; you select a partner who you think aligns with your thought process; so too in digital adoption, not every trend aligns with organisational objectives. The way to channel digital transformation is by considering the features, goals, and impact of the adopted technology and what it means for the business.

Always Keep Customers at the Forefront

In a customer-centric landscape, it is paramount to curate a digitally advanced ecosystem that accommodates both business goals and guarantees customer experience. At its very core, digital adoption encompasses prioritising customer experiences. To cultivate a landscape where digital transformation is constantly in motion, understanding the needs and requirements of customers forms the heart of digital adoption. To an extent it predicates the concept of walking in the customer's shoes; not an easy task to accomplish; given that we tend to use the prism of the organisation for our world & customer view.

 

Equipping new technology should always be compatible with the customer's wants, needs, and expectations. If the customer expects instant responses, ascribing a premium to the delivery of the same; adopting generative AI and chatbots is a step towards adapting to customer needs. Alternatively, AI and ML systems can curate a customised experience if consumers demand personalised services and are willing to pay for them, not merely in the monetary currency but encompassing, lifetime value and referral too.

Continuous Learning, Upskilling, and Reskilling

Digital adoption is a holistic process that impacts and benefits each tier across all industries. As riveting and rewarding as digitalisation is, effectively implementing it requires all parties to be on the same page. According to a study, 70% of digital transformation endeavours remain unsuccessful due to resistance from staff—combating this challenge is another stride towards successful digital adoption. Creating an environment that fosters and embraces digital evolution is the secret ingredient to achieving all digital adoption goals quickly and effectively. Fundamental to getting everyone under the same umbrella, is to finely articulate; what’s in it for them.

Digital Adoption: Paving the Way for a Digital Revolution

Thriving in a landscape surrounded by mounting competition, customer requests, and digital change, fast-tracking digital adoption is more critical than ever. Establishing goals, centring customer needs, and encouraging continuous learning have, time and again, been proven to help industries mould into a world heading towards a digital future.

 

These colossal strategies have revamped the technology sphere with astounding results. Enterprises with a well-rounded digital adoption strategy increase their chances to boost revenue and generate additional revenue streams by 1.6 times. Additionally, most retailers laud digital adoption for empowering their digital knowledge and capabilities by incorporating new technologies or buffing their omnichannel services. Digitisation is not the panache for cost optimisation but rather an opportunity to leapfrog the organisation into its next level of evolution & growth.

 

The journey into industry

A prominent name in the digital and business landscape, Mr. Shree Parthasarathy has steered a new wave of digitalisation. With over three decades of extensive experience establishing practices and providing client-specific solutions, Mr. Parthasarathy has changed the tides of technology, digital transformation on enterprise, supply chain, sales, and workforce levels, cyber identity and resilience, and risk consulting across markets in the USA, South Asia,  Asia–Pacific, and the Middle East.

 

As the Managing Director at Metavrash Consulting, Mr. Parthasarathy is an eminent leader and a visionary. His expertise in digital and technology transformation, IoT, data infrastructure & analytics, software development, cyber security, cloud engineering, and managed technology reflects his leadership skills and impact on fostering a culture of continuous learning and development across organisations.

 

Throughout his career, Mr. Shree Parthasarathy has accelerated digital adoption and transformation by holding esteemed positions in renowned organisations like Deloitte, Grant Thornton, and Bennett University and directly working with the Government of India as an advisor on digital payment, supply chain, cyber security, and crisis management.